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MIRA INFORM REPORT
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Report No. : |
496436 |
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Report Date : |
08.03.2018 |
IDENTIFICATION DETAILS
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Name : |
JSS MEDICAL RESEARCH INDIA PRIVATE LIMITED (w.e.f.
29.02.2016) |
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Formerly Known
As : |
JSS MEDICAL RESEARCH INDIA LIMITED (w.e.f. 26.11.2015) MAX NEEMAN MEDICAL INTERNATIONAL LIMITED (w.e.f. 01.05.2008) NEEMAN MEDICAL INTERNATIONAL (ASIA) LIMITED |
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Registered
Office : |
Plot No. 12/2, 6th Floor, Vatika Mindscapes Tower – B Sarai
Khwaja Metro Station, Mathura Road, NH-2, Sector 27D, Faridabad – 121003,
Haryana |
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Tel. No.: |
91-129-6613500 |
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Country : |
India |
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Financials (as
on) : |
31.03.2017 |
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Date of
Incorporation : |
26.10.1999 |
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Com. Reg. No.: |
05-102149 |
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Capital
Investment / Paid-up Capital : |
INR 144.868 Million |
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CIN No.: [Company Identification
No.] |
U74999DL1999PTC102149 |
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IEC No.: [Import-Export Code No.] |
0502003081 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELN03696A |
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GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
AABCN0773B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Providing clinical research experimental development services to global pharmaceuticals, device and biotechnology companies. (Registered activity) |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 36000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1999. It is a wholly owned
subsidiary of JSS Medical Research Inc. The company is a service contact research organization offering
solutions to the clinical life cycle. As per the financial records of 2017, the company has achieved a fair
growth of 10% in its revenue as compared to the previous year’s revenue but
has incurred operational losses. The company possesses moderate financial position marked by negative
reserve base along with slightly high debt balance sheet profile. However, rating takes into consideration the strength that the company
derives from its holding company and its experienced management team. Business is active. Payment seems to be slow but correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low
Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High
Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2016.
BIFR (Board for Industrial & Financial
Reconstruction) LISTING STATUS
Subject’s name is
not listed as a Sick Unit in the publicly available BIFR (Board for Industrial
& Financial Reconstruction) list as of 08.03.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION DENIED
MANAGEMENT NON-COOPERATIVE; Tel. No.: 91-129-6613500
Mobile No.: 91-9810624323 – Not Reachable / 91-9717170267 – Ringing
LOCATIONS
|
Registered Office / Corporate office / Head Office: |
Plot No. 12/2, 6th Floor, Vatika Mindscapes Tower – B Sarai
Khwaja Metro Station, Mathura Road, NH-2, Sector 27D, Faridabad – 121003,
Haryana, India |
|
Tel. No.: |
91-129-6613500 |
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Mobile No.: |
91-9810624323 (Mr. Kishor Kumar) 91-9717170267 (Dr. Jayendra) |
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Fax No.: |
91-129-6613520 |
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E-Mail : |
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Website : |
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Area : |
20,000 Sq. ft. |
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Location : |
Leased |
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Head Office : |
9400 Henri-Bourassa Blvd. West, St-Laurent (Montreal), Quebec H4S 1N8 |
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Mumbai Office : |
Ready Money Terrace, 1st Floor, 167 Dr. A B Road, Worli Naka,
Mumbai – 400018, Maharashtra, India |
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Tel. No.: |
91-22-66604446-9 |
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Fax No.: |
91-22-24930936 |
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Ahmedabad Office : |
C-504 A, Ganesh Meridian, Opposite Gujarat High Court, S.G. Highway,
Ahmedabad, Gujarat, India |
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Tel. No.: |
91-79-40032006 |
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Bangalore Office : |
302, Suraj Plaza, 196/8, 8th
Floor Main, 3rd Block, Jayanager, Bangalore – 560011, Karnataka, India |
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Tel. No.: |
91-80-40953107 |
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Chennai Office: |
#11, TNGO Colony, 1st Street, Nanganallur, Chennai – 600061,
Tamilnadu, India |
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Tel. No.: |
91-44-22249884 |
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Reginal Offices: |
Located at:
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DIRECTORS
As on 31.03.2017
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Name : |
Mr. John Sotirios Sampalis |
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Designation : |
Director |
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Address : |
12445 Rue Olivier, Montreal, QC, H4K1V3 Montreal H4K1V3 CA |
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Date of Birth/Age : |
17.11.1957 |
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Qualification : |
B.S.C, B.A. (Hon), M.S.C., Ph.D, F.A.C.E. |
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Experience : |
33 Years |
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Date of Appointment : |
28.09.2015 |
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DIN No.: |
07156954 |
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Name : |
Mr. Kishor Kumar |
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Designation : |
Additional Director |
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Address : |
27/86, Jwala Nagar, Shahdra ,Near Amar Ashram Mandir,
Delhi – 110032, India |
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Date of Birth/Age : |
22.07.1971 |
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Qualification : |
CA |
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Experience : |
20 Years |
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Date of Appointment : |
30.09.2016 |
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DIN No.: |
00197907 |
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PAN No.: |
AHLPK0760H |
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Other Directorship:
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Name : |
Mr. Ajoy Kumar |
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Designation : |
Director |
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Address : |
House No. - F2/C, Vikrampuri Opposite - Parvathi Nursing
Home, Vikrampuri Secunderabad – 500003, Andhra Pradesh, India |
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Date of Birth/Age : |
10.08.1962 |
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Date of Appointment : |
28.09.2017 |
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PAN No.: |
ACKPK4819P |
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DIN No.: |
02320218 |
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Other Directorship:
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Name : |
Mr. Stella Boukas |
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Designation : |
Director |
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Address : |
12445 Rue Olivier Montreal (QC) H4K 1V3 Montreal 000000 CA |
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Date of Birth/Age : |
27.11.1962 |
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Date of Appointment : |
28.09.2017 |
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DIN No.: |
07657872 |
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Name : |
Mr. Emmanouil Rampakakis |
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Designation : |
Director |
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Address : |
4247, AV Henri-Julien, Montreal (QC), H2W 2K7 Montreal
000000 CA |
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Date of Birth/Age : |
17.03.1980 |
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Date of Appointment : |
28.09.2017 |
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DIN No.: |
07657883 |
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KEY EXECUTIVES
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Name : |
Mr. Manoranjan Kumar |
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Designation : |
Company Secretary |
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Address : |
475/6, Guru Ramdas Nagar, Laxmi Nagar, Delhi – 110092,
India |
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Date of Appointment : |
15.12.2015 |
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PAN No.: |
BXAPK2110F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2017
|
Names of Shareholders |
|
No. of Shares |
|
JSS Medical Research Inc |
|
14486743 |
|
Kishor Kumar |
|
20 |
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Marianna Boukas |
|
10 |
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Stella Boukas |
|
10 |
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Emmanouil |
|
10 |
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Toni Rinow |
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10 |
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John Sampalis |
|
10 |
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Total |
|
14486813 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2017
|
Category |
Percentage |
|
Promoter - Bodies
corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing clinical research experimental development services to global pharmaceuticals, device and biotechnology companies. (Registered activity) |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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Name : |
S R Batliboi and Company LLP Chartered Accountants |
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Address : |
Golf View Corporate Tower B, Sector 42, Near Golf Course, Gurugram –
122002, Haryana, India |
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Tel. No.: |
91-124-4644000 |
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Fax No.: |
91-124-4644050 |
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E-Mail : |
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PAN N Income-tax PAN of auditor or auditor's firm : |
ACHFS9180N |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Holding company: |
Jss Medical Research Inc., Canada |
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Fellow Subsidiary
company: |
Jss Medical Research, LatAm, Chile |
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
INR 10/- each |
INR 150.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14486813 |
Equity Shares |
INR 10/- each |
INR 144.868 Million |
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FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
144.868 |
144.868 |
144.868 |
|
(b) Reserves and Surplus |
(132.190) |
(112.600) |
(86.247) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
12.678 |
32.268 |
58.621 |
|
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|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.309 |
1.963 |
2.929 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
3.554 |
2.068 |
3.151 |
|
Total Non-current Liabilities
(3) |
4.863 |
4.031 |
6.080 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
46.407 |
48.608 |
24.290 |
|
(b) Trade
payables |
39.771 |
65.615 |
43.640 |
|
(c) Other
current liabilities |
53.090 |
41.823 |
37.362 |
|
(d) Short-term
provisions |
7.071 |
5.763 |
9.386 |
|
Total Current
Liabilities (4) |
146.339 |
161.809 |
114.678 |
|
|
|
|
|
|
TOTAL |
163.880 |
198.108 |
179.379 |
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
8.161 |
9.716 |
9.528 |
|
(ii)
Intangible Assets |
5.287 |
34.627 |
1.334 |
|
(iii) Tangible assets
capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
16.733 |
16.733 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
23.376 |
19.515 |
0.544 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
36.824 |
80.591 |
28.139 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
2.962 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
98.665 |
92.364 |
66.689 |
|
(d) Cash and
bank balances |
16.758 |
4.694 |
52.227 |
|
(e)
Short-term loans and advances |
11.633 |
20.459 |
26.313 |
|
(f) Other
current assets |
0.000 |
0.000 |
3.049 |
|
Total
Current Assets |
127.056 |
117.517 |
151.240 |
|
|
|
|
|
|
TOTAL |
163.880 |
198.108 |
179.379 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
212.118 |
192.830 |
173.750 |
|
|
Other Income |
34.625 |
2.032 |
6.576 |
|
|
TOTAL |
246.743 |
194.862 |
180.326 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
133.342 |
112.033 |
126.992 |
|
|
Other expenses |
94.570 |
73.205 |
79.621 |
|
|
TOTAL |
227.912 |
185.238 |
206.613 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
18.831 |
9.624 |
(26.287) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
5.176 |
3.712 |
13.502 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
13.655 |
5.912 |
(39.789) |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
33.245 |
32.265 |
10.382 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
(19.590) |
(26.353) |
(50.171) |
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
(19.590) |
(26.353) |
(50.171) |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
129.979 |
136.767 |
|
|
TOTAL EARNINGS |
0.000 |
129.979 |
136.767 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
(1.35) |
(1.82) |
(11.57) |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
0.655 |
0.965 |
1.468 |
|
Net cash flows from (used in) operations |
27.852 |
(3.774) |
(34.453) |
|
Net cash flows from (used in) operating activities |
20.593 |
(3.774) |
(34.453) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
169.78 |
174.83 |
140.09 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
2.15 |
2.09 |
2.61 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.40 |
0.22 |
(2.42) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.90 |
0.83 |
0.66 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
3.82 |
1.60 |
0.49 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
11.54 |
5.01 |
1.96 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
1.06 |
1.37 |
0.19 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
3.64 |
2.59 |
(1.95) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(9.24) |
(13.67) |
(28.88) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(11.95) |
(13.30) |
(27.97) |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(154.52) |
(81.67) |
(85.59) |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
0.87 |
0.73 |
1.32 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.87 |
0.73 |
1.32 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.08 |
0.16 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.33 |
0.36 |
0.20 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
0.87 |
0.73 |
1.32 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
FINANCIAL ANALYSIS
[all figures are
INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
144.868 |
144.868 |
144.868 |
|
Reserves & Surplus |
(86.247) |
(112.600) |
(132.190) |
|
Net
worth |
58.621 |
32.268 |
12.678 |
|
|
|
|
|
|
Long-term borrowings |
2.929 |
1.963 |
1.308 |
|
Short term borrowings |
24.290 |
48.608 |
46.407 |
|
Current maturities of
long-term debts |
1.468 |
0.965 |
0.655 |
|
Total
borrowings |
28.687 |
51.536 |
48.370 |
|
Debt/Equity
ratio |
0.489 |
1.597 |
3.815 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
173.750 |
192.830 |
212.118 |
|
|
0.000 |
10.981 |
10.003 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
173.750 |
192.830 |
212.118 |
|
Profit/ (Loss) |
(50.171) |
(26.353) |
(19.590) |
|
|
(28.88
%) |
(13.67
%) |
(9.24
%) |
ABRIDGED
BALANCE SHEET – (CONSOLIDATED)
|
SOURCES OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
144.868 |
144.868 |
|
(b) Reserves and Surplus |
|
(132.190) |
(112.023) |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
12.678 |
32.845 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.308 |
1.963 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long-term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
3.554 |
2.068 |
|
Total Non-current
Liabilities (3) |
|
4.862 |
4.031 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short-term
borrowings |
|
46.407 |
48.608 |
|
(b) Trade
payables |
|
39.771 |
48.239 |
|
(c) Other
current liabilities |
|
53.090 |
41.823 |
|
(d) Short-term
provisions |
|
7.071 |
5.829 |
|
Total Current
Liabilities (4) |
|
146.339 |
144.499 |
|
|
|
|
|
|
TOTAL |
|
163.879 |
181.375 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
8.161 |
9.716 |
|
(ii)
Intangible Assets |
|
5.287 |
34.627 |
|
(iii) Tangible assets
capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d)
Long-term loans and advances |
|
23.376 |
19.515 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
36.824 |
63.858 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
0.000 |
0.000 |
|
(c) Trade
receivables |
|
98.664 |
92.364 |
|
(d) Cash and
bank balances |
|
16.758 |
4.694 |
|
(e)
Short-term loans and advances |
|
11.633 |
20.459 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
127.055 |
117.517 |
|
|
|
|
|
|
TOTAL |
|
163.879 |
181.375 |
PROFIT
& LOSS ACCOUNT– (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
|
212.118 |
192.830 |
|
|
Other Income |
|
18.419 |
2.780 |
|
|
TOTAL |
|
230.537 |
195.610 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employee benefit expense |
|
133.342 |
115.245 |
|
|
Other expenses |
|
78.941 |
69.500 |
|
|
TOTAL |
|
212.283 |
184.745 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
18.254 |
10.865 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
5.176 |
3.712 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
13.078 |
7.153 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
33.245 |
32.293 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(20.167) |
(25.140) |
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.066 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(20.167) |
(25.206) |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
|
(1.392) |
(1.740) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE INFORMATION
Subject is a 100% subsidiary of JSS Medical Research, Inc, Canada and is a value added contract research organisation providing clinical research services to global pharmaceuticals, device and biotechnology companies.
FINANCIAL PERFORMANCE
The Company is constantly overcoming its losses and moving towards growth and in the financial year 2016-17 the revenue of the Company increased to INR 246.000 Million from INR 194.800 Million in the previous year and its net losses reduced to INR 19.500 Million as compared to INR 26.300 Million in the previous year.
OPERATIONS
With operations having stabilized, your Company now offers services across seven fields within the CRO industry. These are (i) Site Management, (ii) Site Monitoring, (iii) Clinical Data Management, (iv) Project Management, (v) Medical Writing (vi) Supply Chain Management of Clinical Trial Material(Vii) Medical Monitoring. The Company also operates in Phase IV trials.
On the clinical research front, where it provides services in Phases II, III and IV of clinical trial studies, the Company now has access to over 2,000 ICH GCP trained investigators. A team of over 88 clinical research coordinators and associates with presence across 22 Indian cities gives the Company access to patients and investigators for various therapeutic areas. An automated workflow process ensures efficient and accurate data management. During the year total strength of the Company has been increased from 206 in previous year to 254.
The Company's patient retention rate - a critical business driver in clinical trials - is 92% against an industry average of 65% to 70%. It caters to several prestigious customers that include Torrent, Fresenius Kabi, M. J Biopharm, Nestle, DuPont, Cipla, Abbott, OPKO, Dr. Reddy’s Laboratories, Terumo India Private Limited., Glysure Limited.,Ferring Pharmaceuticals, Emergent Bio solutions, Nemaura Pharma, Procept Biorobotics, Piramal Healthcare, Merck, GlaxoSmithKline, Bristol Myers Squibb, Sanofi-Aventis, Johnson and Johnson Novartis, Pfizer, AstraZeneca, Genzyme, Pharmacosmos, Biogen Idec, Genzyme, Novo Nordisk, and Wyeth as well as other medium Sized companies such as Achillion, Globelmmune, AP Pharma, ORA, KV Pharmaceuticals, Inspiration, Biotronik, West Ward, Orion, Octapharma, Ocular Theraputics, SOV Therpeutics, Check Cap, Angel Med, Theracos, Trutek, Sun Pharma, Advaxis, Onyvax, Cardiogenesis Akorn, Eyegate, Quintiles, Bio Cryst, Heart force, Viro Pharma, Nural Strem, Victhorn, Premiere Research, Sintesi Research, Boston Scientific, Semler Research, Mardil, Medtronic, Surpass Medical,Vision Care, Amgen, Acrovan, Mediwound, Ethicon, Cure Tech, Corventis Medical, Capnia, Onconova, and Chan Rx.
The Company follows a robust system of quality control. All its operational activities are governed by strict adherence to ICH-GCP guidelines. It is the first CRO in India whose eight sites have been audited successfully by the USFDA. Company has also established internal QA department that helps to improve the quality significantly. The Company has been certified for ISO 9001:2008 for site management, monitoring and data management. All its activities and operations are governed by robust standard operating procedures (SOPs). The Company has also been certified organization wide for ISO 27001:2005 (Information Security Management System) and ISO 14155: 2011 for Clinical Trial of Clinical Device Studies.
INDEX
OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G60309192 |
100131535 |
12/07/2017 |
- |
- |
911655.0 |
E-31, Ground Floor, Saket, South Delhi- 110017, India |
|
|
2 |
B37422672 |
10349234 |
28/03/2012 |
- |
- |
60000000.0 |
9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI – 400018, MAHARASHTRA, INDIA |
FIXED ASSETS
- Land
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 65.99 |
|
|
1 |
INR 89.90 |
|
Euro |
1 |
INR 80.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVT |
|
|
|
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.